Apparently, Trump is a trade warmonger. 

Courtesy of CNBC:

China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods.

Beijing will increase tariffs on more than 5,000 products to as high as 25%, the Chinese Finance Ministry said Monday. Duties on some other goods will increase to 20%. Those rates will rise from either 10% or 5% previously.

The move follows President Donald Trump’s decision to raise duties on $200 billion in Chinese products to 25% from 10%. The world’s two largest economies have struggled to ink a trade deal and end a widening trade conflict that threatens to damage the global economy.

The latest shot in the trade war rattled investors. U.S. stock futures signaled a sharp drop Monday morning amid the escalation.

Oddly enough Trump seemed to be caught a little flat-footed by this news and sent out a bunch of angry tweets this morning filled with grammatical errors. 

Well, I think we can now see how Trump managed to lose over a billion dollars in ten years.

Worst businessman ever!

It should also be pointed out that Trump’s solution to the suffering of farmers due to his trade war is a government handout.

Courtesy of HuffPo:

President Donald Trump is seeking an additional $15 billion in U.S. subsidies in an effort to protect farmers from the devastating impact of his trade war with China. That’s on top of $12 billion already earmarked for the farmers to help them weather the fallout.

That would be an additional bill for U.S. taxpayers already shouldering the cost of increased tariffs in the form of higher costs for products and parts from China.

Trump revealed the subsidy figure in a tweet Friday. He suggested the government use the funds to buy agricultural products to ship to other nations for humanitarian aid, though setting up such a system would be extremely complicated. In his most recent budget proposal, Trump proposed eliminating three food aid programs, Politico noted.

The president appeared to dismiss the impact of the cost as he falsely claimed — again — that “massive” tariff payments are being paid by China “directly” to the U.S. Treasury, which would presumably be used to cover the cost of the subsidy. There is “absolutely no need to rush” to negotiate a deal with China, he tweeted.

So Trump makes yet another bad business decision and then expects to use government handouts to cover for his mistakes like he used his father’s handouts to cover for his mistakes back in the good old days.